Market Analysis of GBPUSD

2024-07-10 17:11Source:BtcDana

Technical Analysis
GBPUSD have big potential to sell around 1.28018. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyers is weakening.

Fundamental Analysis
Treasury yields rose Tuesday as investors digested comments from Federal Reserve Chair Jerome Powell.

The yield on the 10-year Treasury
added 2.7 basis points to 4.295%. The 2-year Treasury
yield advanced less than one basis point to 4.62%.

Yields and prices have an inverted relationship. One basis point equals 0.01%.
DISCLAIMER: The information on this analysis is based on research and experience, and it is not guaranteed to be accurate